SOLID STATE PLC
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Cash
£6.6m
+87% vs 2025
Net assets
£63m
-10.7% lowest in 3 filed years
Employees
488
+3.8% highest in 3 filed years
Profit before tax
£5.8m
+1,726.6% vs 2025
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £163,303,000 | £125,064,000 | £154,144,000 | +23.3% | |
| Operating profit | £13,700,000 | £1,334,000 | £6,947,000 | +420.8% | |
| Profit before tax | £12,187,000 | £320,000 | £5,845,000 | +1,726.6% | |
| Net profit | £8,872,000 | £512,000 | £4,088,000 | +698.4% | |
| Cash | £8,445,000 | £3,513,000 | £6,568,000 | +87% | |
| Total assets less current liabilities | £82,626,000 | £70,887,000 | £63,416,000 | -10.5% | |
| Net assets | £64,620,000 | £70,887,000 | £63,316,000 | -10.7% | |
| Equity | £64,620,000 | £64,696,000 | £63,316,000 | -2.1% | |
| Average employees | 433 | 470 | 488 | +3.8% | |
| Wages | £24,485,000 | £22,085,000 | £27,495,000 | +24.5% | |
| Directors' remuneration | — | £1,291,000 | £2,075,000 | +60.7% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Operating margin | 8.4% | 1.1% | 4.5% | |
| Net margin | 5.4% | 0.4% | 2.7% | |
| Return on capital employed | 16.6% | 1.9% | 11.0% | |
| Gearing (liabilities / total assets) | 43.1% | 31.9% | 41.0% | |
| Current ratio | 2.12x | 1.79x | 2.72x | |
| Interest cover | 8.10x | 1.32x | 6.30x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- SOLID STATE PLC 2006-05-03 → present
- SOLID STATE SUPPLIES PLC 1990-04-04 → 2006-05-03
- CARTER LANE DEALERS LIMITED 1963-08-20 → 1990-04-04
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- RSM UK Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have concluded that there is a reasonable expectation that the Group will continue in operational existence for the foreseeable future of at least 12 months from the date of approval of the financial statements.”
Group structure
- SOLID STATE PLC · parent
- Solid State Supplies Limited 100%
- Steatite Limited 100%
- Custom Power Holdings Inc 100%
- Custom Power LLC 100%
- Solid State US, Inc 100%
Significant events
- “The Group refinanced its ongoing business through a revolving credit facility, utilising the RCF at a floating rate of interest.”
- “The Group delivered revenue of £154.1m and reduced net debt to £4.2m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 16 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DAVIDSON, Lyn Marion Bruce | Secretary | 2024-03-26 | — | — |
| CHAVEZ, Victor Manuel | Director | 2026-01-01 | Jan 1963 | British |
| JAMES, Peter Owen | Director | 2017-02-20 | Jun 1979 | British |
| MACMICHAEL, John Lawford | Director | 2010-04-01 | Apr 1961 | British |
| MAGOWAN, Peter John | Director | 2021-01-01 | Aug 1967 | British |
| RICHARDS, Matthew Thomas | Director | 2016-04-18 | Oct 1963 | British |
| ROGERS, Nigel Foster | Director | 2019-07-01 | Jul 1961 | British |
| SMITH, Samantha Jane | Director | 2023-08-01 | May 1974 | British |
Show 16 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HAINING, Peter, Mr. | Secretary | 1996-06-20 | 2024-04-12 |
| MARSH, Barbara Delphine Marion | Secretary | — | 1996-06-20 |
| BIGGS, Jeffrey Richard Hugh, Mr. | Director | 1996-04-17 | 2001-01-31 |
| COMBEN, Gordon Leonard | Director | 2008-11-13 | 2015-01-01 |
| COMBEN, Gordon Leonard | Director | — | 2005-10-24 |
| COMBEN, Judith Margaret | Director | — | 1996-03-29 |
| FRERE, Anthony Brian | Director | 2010-04-01 | 2020-03-31 |
| HAINING, Peter, Mr. | Director | 1996-06-20 | 2023-09-06 |
| LAVERY, John Michael, Mr. | Director | 2002-06-24 | 2019-08-31 |
| MARSH, Barbara Delphine Marion | Director | — | 1996-03-29 |
| MARSH, Gary Stephen | Director | 1996-04-17 | 2025-11-11 |
| MARSH, William George, Mr. | Director | — | 2015-01-01 |
| NEWNHAM, Lewis Cyril Ashby | Director | 1996-06-20 | 2010-12-31 |
| NUTTER, Mark Timothy | Director | 2016-01-01 | 2016-06-29 |
| SPANSWICK, Ian | Director | 1997-06-12 | 2002-03-31 |
| THOMAS, Graham Douglas | Director | 1998-10-01 | 2001-10-16 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 262 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-31 | AA | accounts | Accounts with accounts type group | |
| 2026-01-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-18 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-01 | AA | accounts | Accounts with accounts type group | |
| 2025-09-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-22 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-22 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-22 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-11-08 | SH01 | capital | Capital allotment shares | |
| 2024-10-15 | SH01 | capital | Capital allotment shares | |
| 2024-10-07 | SH01 | capital | Capital allotment shares | |
| 2024-09-16 | AA | accounts | Accounts with accounts type group | |
| 2024-09-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-05 | CH01 | officers | Change person director company with change date | |
| 2024-08-02 | CH01 | officers | Change person director company with change date | |
| 2024-04-24 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-04-15 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-02-03 | SH01 | capital | Capital allotment shares | |
| 2023-11-09 | SH01 | capital | Capital allotment shares | |
| 2023-09-27 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 3
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.